During negotiations with granddaughter Riley Keough over Lisa Marie Presley's trust, Priscilla Presley has reportedly requested to be buried next to her ex-husband, Elvis Presley, at his Graceland estate in Memphis, Tennessee.

A source confirmed this to Us Weekly. Another insider told TMZ that Priscilla asked for a burial spot next to the "King of Rock' n' Roll," whose tomb sits between the graves of his grandmother and father. Elvis' mother and daughter, Lisa Marie, and her son, Benjamin, are also buried at the estate.

"Although I don't plan on going anywhere anytime soon. It is my family's and my wish for me to be laid to rest with my daughter and the love of my life when that time comes. We appreciate the love from all of the fans," Priscilla also told TMZ.

However, there is an unresolved issue of who will be moved if Priscilla is to be buried next to Elvis Presley. Thus, her demand was reportedly a non-starter and was denied.

Priscilla reportedly did not challenge the decision and backed down without much discussion. However, Elvis' ex-wife still reportedly walked away with an impressive settlement during negotiations with Riley over Lisa Marie's trust.

TMZ reported that Priscilla also asked for money, and she got millions in return for dropping her claims over who controls her daughter's trust.

Priscilla Presley was married to Elvis Presley from 1967 to 1973, and the former couple welcomed their daughter, Lisa Marie Presley, in 1968. 

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Priscilla Presley and Riley Keough Settle Dispute Over Lisa Marie Presley's Estate

Priscilla Presley and her granddaughter Riley Keough reportedly settled their dispute over Lisa Marie Presley's trust earlier this week.

According to PEOPLE, Priscilla and Riley's legal teams reached a settlement at a Los Angeles courthouse on Tuesday. However, details of the settlement were kept private.

TMZ sources noted that Lisa Marie's estate paid Priscilla an undisclosed sum of money to settle the dispute, and it's reportedly worth millions.

After the hearing, Ronson Shamoun, Priscilla's attorney, told reporters outside the courtroom: "They have reached a settlement. Families are happy. Everyone is happy. Unified and together and excited for the future."

Justin Gold, Riley's lawyer, added: "[Riley] would not have agreed to the settlement if she was not happy with it." The next hearing and motion for approval are reportedly set for August 4.

According to Los Angeles probate attorney David Esquibias, many families resolve disputes like this quietly and settle out of court, with lawyers acting as quick negotiators.

TMZ reported that at the time of her passing, Lisa Marie Presley reportedly had at least $35 million in life insurance policies.

"A 'life insurance trust' is typically created by wealthy people. It is an irrevocable trust that is funded with life insurance," explained Esquibias.

For someone like Lisa Marie, he added that a life insurance trust's primary objective is "to avoid tax at death."

Priscilla Presley Wanted to Remain a Co-Trustee For Lisa Marie Presley's Estate

Lisa Marie Presley, who died at 54 last January 12, changed her will in 2016 to remove her 77-year-old mother, Priscilla Presley, and make her 33-year-old daughter Riley Keough the executor.

Lisa Marie has three surviving children: Keough and 14-year-old twin daughters Harper Vivienne Ann and Finley Aaron Love.

Currently, the trust of the late Lisa Marie, which reportedly includes the Graceland mansion and a stake in the Elvis Presley Enterprises (EPE), named Riley a co-trustee. However, Priscilla is legally challenging that. 

Lisa Marie had previously named her mother and former business manager Barry Siegel as co-trustees in 2010. However, a 2016 amendment removed the two as co-trustees and put the trust in the hands of her daughter and her late son Benjamin.

Last January, Priscilla's lawyers filed a petition questioning the "authenticity and validity" of the 2016 document. Priscilla's camp alleged that her daughter's signature on the 2016 amendment "appears inconsistent with her usual and customary signature."

She also argued that her daughter's name had been spelled wrong and that the document was never notarized. In filing the petition, Priscilla reportedly wanted confirmation from the court that she would continue to be a trustee of Lisa Marie's estate.

The only child of Elvis Presley owned Graceland, the estate in Memphis that her father bought in 1957. Despite having no ownership or role in the company, Priscilla was reportedly being paid $900,000 a year by EPE.

EPE is a corporate entity formed by "The Elvis Presley Trust" to conduct business and manage its assets, including Graceland and worldwide licensing of Elvis-related products. EPE's major source of revenue is the Graceland operation.

A friend of Lisa Marie previously told The New York Post that Priscilla, who had been a longtime Elvis estate trustee, has also failed to have her contract renewed by EPE in 2020.

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Written by: Bert Hoover

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